Ritchie Bros. Auctioneers (RBA) Rating Reiterated by Barrington Research

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA)‘s stock had its “hold” rating restated by Barrington Research in a research note issued on Monday.

Several other research analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Ritchie Bros. Auctioneers from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Friday, September 28th. National Bank Financial raised their price objective on shares of Ritchie Bros. Auctioneers from $35.00 to $39.00 and gave the stock a “sector perform” rating in a research report on Monday, August 13th. Macquarie raised their price objective on shares of Ritchie Bros. Auctioneers from $39.50 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, September 11th. Raymond James raised their price objective on shares of Ritchie Bros. Auctioneers from $34.00 to $38.00 and gave the stock a “market perform” rating in a research report on Monday, August 13th. Finally, Scotiabank set a $39.00 price objective on shares of Ritchie Bros. Auctioneers and gave the stock a “hold” rating in a research report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $36.11.

NYSE RBA opened at $32.84 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $3.64 billion, a P/E ratio of 40.54, a P/E/G ratio of 2.35 and a beta of 0.78. Ritchie Bros. Auctioneers has a 12 month low of $24.08 and a 12 month high of $38.77.

Ritchie Bros. Auctioneers (NYSE:RBA) (TSE:RBA) last posted its earnings results on Thursday, August 9th. The business services provider reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.06. The firm had revenue of $206.80 million for the quarter, compared to the consensus estimate of $225.52 million. Ritchie Bros. Auctioneers had a net margin of 12.36% and a return on equity of 13.42%. The company’s revenue was up 24.4% on a year-over-year basis. During the same period last year, the firm posted $0.33 EPS. On average, research analysts forecast that Ritchie Bros. Auctioneers will post 1.1 EPS for the current fiscal year.

In other news, SVP Kieran Colquhoun Holm sold 13,240 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $38.24, for a total value of $506,297.60. Following the completion of the sale, the senior vice president now owns 11,278 shares in the company, valued at approximately $431,270.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC raised its position in Ritchie Bros. Auctioneers by 2.2% during the second quarter. CWM LLC now owns 93,061 shares of the business services provider’s stock worth $3,175,000 after acquiring an additional 2,036 shares during the last quarter. Norris Perne & French LLP MI raised its position in Ritchie Bros. Auctioneers by 0.6% during the second quarter. Norris Perne & French LLP MI now owns 344,133 shares of the business services provider’s stock worth $11,742,000 after acquiring an additional 2,084 shares during the last quarter. Comerica Bank raised its position in Ritchie Bros. Auctioneers by 32.2% during the second quarter. Comerica Bank now owns 9,453 shares of the business services provider’s stock worth $308,000 after acquiring an additional 2,300 shares during the last quarter. Tobam raised its position in Ritchie Bros. Auctioneers by 2.2% during the second quarter. Tobam now owns 121,000 shares of the business services provider’s stock worth $4,125,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Sei Investments Co. raised its position in Ritchie Bros. Auctioneers by 2.6% during the second quarter. Sei Investments Co. now owns 139,990 shares of the business services provider’s stock worth $4,777,000 after acquiring an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 93.82% of the company’s stock.

Ritchie Bros. Auctioneers Company Profile

Ritchie Bros. Auctioneers Incorporated, an asset management and disposition company, sells industrial equipment and other durable assets through its unreserved auctions, online marketplaces, listing services, and private brokerage services. The company sells a range of used and unused equipment, including earthmoving equipment, truck trailers, government surplus, oil and gas equipment, and other industrial assets.

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Analyst Recommendations for Ritchie Bros. Auctioneers (NYSE:RBA)

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